Senior Investment Risk Manager - Private Markets
Lgps Central
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Job summary
LGPS Central is seeking a Senior Investment Risk Manager to embed the Investment Risk Policy across its Private Markets, including private equity, infrastructure, and property. The role leads quantitative risk analysis, reporting and governance to support disciplined investment decision‑making.
You will work with the Head of Investment Risk and senior stakeholders to enhance risk culture, data quality and analytics, applying advanced tools and methodologies across complex asset classes.
Qualifications
- Experience in an Investment Risk Management function, with a focus on Private Markets.
- Familiarity with Private Markets risk frameworks including valuation and liquidity oversight.
- Strong quantitative and analytical skills, risk modelling, scenario analysis and reporting.
- Ability to translate complex data into actionable insights for portfolios and committees.
Responsibilities
- Lead the development and embedding of the Investment Risk Policy across Private Markets.
- Design and deliver risk dashboards, reports and committee papers with clear insights.
- Oversee risk modelling, data validation and third‑party risk system outputs.
- Collaborate with Operations, Compliance and Portfolio Managers to strengthen risk culture.
Skills
Education
Tools
Job description
The Senior Investment Risk Manager plays a key role in ensuring that LGPS Central's Investment Risk Policy is shaped and effectively embedded into Private Markets.
The role provides leadership and subject-matter expertise in the design, delivery and continuous improvement of investment risk management for Private Markets, ensuring that frameworks, processes and systems are robust, proportionate and value-adding.
Working closely with the Head of Investment Risk, the postholder will help shape the firm's investment risk culture, enhance analytical capability, and strengthen how we identify, measure and communicate risk around all Private Market asset classes (private equity, infrastructure, private debt and property). This is a hands-on, visible role with influence across the business, requiring a mix of quantitative skill, strategic thinking and collaboration.
This role is a certified role under the Senior Manager's Certification Regime and will be subject to assessments in Fitness and Propriety and any other regulatory requirements
Investment Risk Framework & Governance
- Lead the implementation, oversight and ongoing development of the Investment Risk Policy, ensuring alignment with LGPS Central's Risk Management Framework and regulatory requirements.
- Maintain and enhance the Investment Risk Universe, ensuring all relevant risk types for Private Markets (market, credit, liquidity, concentration, model, counterparty, and transition risk) are appropriately captured, monitored and reported.
- Coordinate the preparation of Investment Committee, ORCA, and Investment Oversight Committee papers, including analytical insights, risk dashboards and policy updates.
- Support the Head of Investment Risk in ensuring the effective operation of the Risk Framework, escalation protocols and approval processes.
Quantitative Risk Analysis & Reporting
- Lead on ensuring relevant systems and models for private market risk modelling are good value for money
- Lead on design and development of the private market risk reporting approach
- Lead on design of developing risk profiles for private market LGPSC funds
- Produce and review detailed daily, weekly and monthly risk reports, ensuring that exposures, risk limits, and sensitivities are accurately represented across all portfolios.
- Evaluate the outputs of third-party risk systems and reconcile key risk metrics to ensure data quality and consistency.
- Identify and interpret emerging risk trends (e.g. concentration, AI and geopolitical impacts) and provide actionable insights to Portfolio Managers and senior stakeholders.
- Drive automation and efficiency in risk reporting using Python, Power BI, or Tableau to enhance visualisation and insight delivery.
Private Markets Oversight
- Develop a Private Markets Oversight framework for LGPSC funds and legacy assets
- Collaborate closely with Private Markets teams to monitor exposures across all Private Market classes, ensuring alignment with risk limits and client mandates.
- Establish and maintain consistent oversight frameworks for Private Markets (Private Equity, Private Credit, Property, Infrastructure, Local Investments), ensuring valuation, liquidity, and concentration risks are appropriately assessed.
- Support the development of look-through risk analytics for fund-of-funds and limited partnership structures.
- Partner with Investment Operations and Finance on data integrity and valuation governance for illiquid assets.
- Own the Private Market investment risk due diligence process
- Review and challenge of Private Market investment strategies
New Product, Mandate & Fund Launches
- Support the launch and lifecycle management of new investment funds or segregated mandates, ensuring appropriate risk controls, performance benchmarks, and stress testing methodologies are established.
- In particular support the New assert class "Local investment Fund" from a risk perspective and built out the investment risk capability for this asset class
- Review and amend the memorandum and risk disclosure documents on risk sections
- Perform pre-trade risk assessments and scenario analysis for new investments, ensuring they align with strategic objectives and regulatory obligations.
Collaboration, Culture & Continuous Improvement
- Act as a visible ambassador for Investment Risk, promoting a culture where risk is viewed as an enabler of informed investment decision-making.
- Work collaboratively with Portfolio Managers, Operations and Compliance to enhance risk awareness, challenge and accountability across all investment processes.
- Deputise for the Head of Investment Risk or the SPM for Public Markets where required, representing the team in committees, cross-functional projects and Partner Fund discussions.
- Mentor and coach junior team members, fostering development, technical learning and a high-performing team culture.
- Lead or contribute to strategic initiatives on technology integration, data quality, and automation to strengthen the overall risk infrastructure.
LGPS Central (LGPSC) Ltd is the FCA regulated asset manager for fourteen local authority pension funds across the Midlands. LGPSC is jointly owned on an equal shares basis by those Partner Fund, and it is responsible for managing £100bn+ of their assets. It is one of six Local Government Pension Scheme (LGPS) asset pools in the UK.
LGPS Central's Partner Funds are:
- Cheshire Pension Fund
- Derbyshire Pension Fund
- Leicestershire Pension Fund
- Nottinghamshire Pension Fund
- Shropshire Pension Fund
- Staffordshire Pension Fund
- West Midlands Pension Fund
- Worcestershire Pension Fund
- Gloucestershire Pension Fund
- Hampshire Pension Fund
- Suffolk County Council
- Wiltshire Pension Fund
- Norfolk Pension Fund
- Oxfordshire Pension Fund
The Company is committed to responsible investment and has made responsible investment a core part of the investment process in every asset class.
LGPS Central offers a friendly and diverse, hybrid working environment with a range of employee benefits. The Company moved to new premises at i10, Railway Drive in September 2026, close to local transport links.
Our objective is to be a leading investment management company working with and for our Partner Funds. With a focus on value for money and performance we want to aspire to be one of the best because this is how we will deliver the superior investment returns and low costs for our Partner Funds
Essential
- Demonstrable experience in an Investment Risk Management function, preferrable with a focus on Private Markets, within an asset management, pension pooling or financial-services environment.
- Familiarity with Private Markets risk frameworks, including valuation and liquidity oversight.
- Strong quantitative and analytical skills, with experience in risk modelling, scenario analysis, and risk reporting
- Experience in private markets risk modelling and third party systems for private market risk modelling.
- Proven ability to manage and interpret large, complex data sets from multiple sources.
- In-depth understanding of private market investment risk, and the ability to contextualise these within investment decision-making.
- Skilled communicator, capable of translating complex data to meaningful insights for both technical and non-technical audiences.
- Excellent report-writing and presentation skills, with the ability to prepare Committee papers to a high standard.
- Strong interpersonal skills with the ability to build relationships and influence across all levels.
Desirable
- Experience with Power BI, Tableau, Python, or R for data analysis and visualisation.
- Prior involvement in policy drafting, risk model validation, or regulatory risk reporting.
- Supervisory or mentoring experience of analysts or junior team members.
- Degree level or equivalent
- CFA or equivalent qualification/ relevant investment experience.
- Has or can meet all the requirements of being an FCA approved person.
We are proud to provide our people with a premium and exclusive benefits package and we are continually improving the rewards we offer. Here are a few of the valuable rewards that you will enjoy:
- Competitive salary
- An enhanced and generous Pension Scheme
- 30 days' paid holiday plus bank holidays
- 2 days paid volunteering days
- An extra paid Company Day in addition to paid holidays
- Excellent Learning & Development Opportunities
- Welfare and Family friendly policies
- Enhanced pay for new parents
- Access to our Employee Assistance Programme 247 Health & Wellbeing Support
- Vitality Private Medical Insurance
- Hybrid Working
- Company Service Awards
- Cycle to Work Scheme
- Company Electric Vehicle Scheme
- Winner of the Cultural Awareness Initiative of the Year FT Advisors Diversity in Finance Awards 2023
- Winner of Diversity and Inclusion Award LAPF In Investments Award 2023
- Winner of LAPF Investment Innovation
- Winner of Pool of the Year 2025
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